Dollar falls after employment data sours recovery hopes

19.02.2021 - Korneychuk Evgeniya
Dollar falls after employment data sours recovery hopes

The dollar paused on Friday following its largest loss in ten days as disappointing U.S. employment data weighed on hopes for a speedy U.S. pandemic recovery.

The greenback continues its role as a safe haven, falling alongside U.S. stocks overnight as an unexpected increase in unemployment claims bruises the economic outlook. 

The dollar index traded at 90.561 in Asian trade following a 0.4% drop overnight after a two-day winning streak. 

The pound was flat at $1.3965 on Friday after a 0.8% gain in the last session, when it climbed as high as $1.3986, its strongest level since April 2018. 

The euro stood at $1.2093 after gaining 0.4% overnight. Against the yen, the dollar steadied after a two-day retreat. 

Elsewhere, Bitcoin traded at $51,335.71 after reaching a record $52,640 on Wednesday in a rally driven by Tesla Inc and others. It rose nearly 78% so far in 2021. 

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